What prevents the wealthy from simply purchasing a city, expanding its capacity, and then raising taxes to pay off their loans and earn a profit?

I read an article recently about a billionaire purchasing a small town in Utah to expand its capacity as a tech hub, and it got me thinking. If a small town is for sale, and a billionaire has the money, why isn't this occurring more frequently?<br><br>Is there something preventing the wealthy from simply purchasing a city in the US, expanding its capacity, and then raising taxes to pay off their loans and earn a profit?